Guilty of murder

Ex-Minneapolis cop Derek Chauvin murdered George Floyd, a jury held on Tuesday. Floyd, an unarmed Black man, said he couldn’t breathe as Chauvin, who is White, knelt on his neck for almost 10 minutes last May. The murder of Floyd exploded an already fiery national upheaval over the drumbeat of American police killings of people of color. Floyd’s death, in which three other Minneapolis police have also been charged—Tou Thao, Thomas Lane and J. Alexander Kueng—led to months of protests during which police departments from New York City to Los Angeles rolled out paramilitary gear to violently put down what were largely peaceful protests. David E. Rovella 

Bloomberg is tracking the progress of coronavirus vaccines while mapping the pandemic globally and across America

Here are today’s top stories   

U.S. lumber prices have soared to records. Demand for wood is skyrocketing. The shares of wood suppliers are surging and building a house has become an exceptionally expensive proposition. Yet trees themselves are dirt cheap in places like Louisiana, where timber supplies are plentiful. What’s going on?

The 2017 tax law pushed by Republicans disproportionately targeted Democrats in high-tax states by eliminating a popular federal deduction. As President Joe Biden seeks to restore taxes that were cut for the rich and corporations to pay for his programs, the so-called SALT deduction has put him in a bind.

The U.S. poverty rate rose to 11.7% in March, the highest level yet during the pandemic following an increase in late 2020 as many government benefits expired.

Johnson & Johnson will restart deliveries of its Covid-19 vaccine to the European Union after the bloc’s drug regulator said the benefits of the shot outweigh the risks of a possible link with rare cases of blood clots. Globally, there have been more than 142 confirmed cases of the novel coronavirus, though the actual figure is likely much higher. Confirmed Covid-19 related deaths now exceed 3 million. Here is the latest on the pandemic.

Despite solid corporate earnings, U.S. stocks fell for a second day as rising virus cases around the world led to renewed concern over the continued economic impact of the pandemic. Here’s your markets wrap.

The Federal Communications Commission is mulling rules to prevent broadcast, cable and satellite providers from blasting commercials at you that are louder than the show you’re watching.

Apple rolled out the first redesign of its flagship desktop iMac computer in almost a decade, showcasing its latest machine with new colors and in-house designed chips instead of those made by  Intel Corp.

Apple iMac

Source: Apple

What you’ll need to know tomorrow 

What you’ll want to read in Bloomberg CityLab

New York Art Venues See Pandemic Silver Lining

Broadway ground to a halt. Music venues begged for government aid. Nonprofit arts and culture organizations face an estimated $16 billion in losses due to the pandemic, with 932,000 jobs “no longer being supported,” according to research released this month by Americans for the Arts. From April to August of last year, the nation’s creative economy took a $150 billion hit. But oddly enough, the public health catastrophe and its consequences for the art scene may have a silver lining.

A scene from Donizetti's Roberto Devereux at the New York Metropolitan Opera

Photographer: Ken Howard/Metropolitan Opera

 

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Bitcoin off the rails

Monday, April 19, 2021

Bloomberg Follow Us Get the newsletter The Bitcoin rollercoaster is back. The cryptocurrency fell by as much as 15% on Sunday before recovering a bit Monday with rival coins like Ether and XRP also

200 million shots

Monday, April 19, 2021

Bloomberg Follow Us Get the newsletter The story of America and the pandemic has been, up until recently, one of catastrophic failures stemming from a combination of bad luck, incompetence, ambivalence

Crypto craze gets crazier

Monday, April 19, 2021

Bloomberg Follow Us Get the newsletter The halt in using Johnson & Johnson's Covid-19 vaccine could last several weeks and risks crimping America's vaccine drive at a pivotal moment. Our

Wall Street crushes it

Wednesday, April 14, 2021

Bloomberg Follow Us Get the newsletter A quarter that began with retail investors declaring from their breakfast nooks the demise of Wall Street as we know it ended with big banks reaffirming their

Vaccine pause

Tuesday, April 13, 2021

Bloomberg Follow Us Get the newsletter Use of Johnson & Johnson's single-shot Covid-19 vaccine was paused byline the US government after six women who received it developed a rare and severe

Is India getting its own digital currency?

Wednesday, July 28, 2021

Finshots Is India getting its own digital currency? A few days back we began hearing whispers about a central bank digital currency (CBDC) and how the RBI is working on it as we speak. So in

Back-to-School Shopping Will Be More Expensive This Year

Wednesday, July 28, 2021

Shoppers should expect shortages and higher prices on computers and other school supplies. July 27, 2021 SHOPPING Back-to-School Shopping Will Be More Expensive This Year Shoppers should expect

Going backwards

Tuesday, July 27, 2021

Bloomberg It was a wrenching first hearing before the special Congressional panel investigating the deadly Jan. 6 insurrection. On that day almost seven months ago, when Congress was formalizing the

🎉 Apple, Alphabet, Microsoft: boom

Tuesday, July 27, 2021

Microsoft has requested permission to smash it | Please eject Apple before fist-pumping vigorously | Finimize Hi Reader, here's what you need to know for July 28th in 3:10 minutes. 🧐 The 1% have

Opinionated: Better Money Storylines Anyone?

Tuesday, July 27, 2021

Plus, retirement dreams and leveling up your career game. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Will Robinhood Start Offering Retirement Accounts?

Tuesday, July 27, 2021

7 Things That Are Getting More Expensive July 27, 2021 Every young generation rejects the practices of those that came before. It's a tale as old as time — or at least as old as baby boomers not

[New post] Slow recoveries, endogenous growth and macroprudential policy

Tuesday, July 27, 2021

BankUnderground posted: " Dario Bonciani, David Gauthier and Derrick Kanngiesser Following the global financial crisis in 2008, central banks around the world introduced tighter banking

Why cigarette companies want you to quit smoking

Tuesday, July 27, 2021

Finshots Why cigarette companies want you to quit smoking In today's Finshots we talk about why Philip Morris wants to stop selling cigarettes Business The Story Jacek Olczak, the CEO of Philip

Bitcoin Prices Soar on Speculation Amazon Will Soon Accept Cryptocurrencies as Payment

Tuesday, July 27, 2021

A job posting offers a tantalizing clue. July 26, 2021 EVERYDAY MONEY Bitcoin Prices Soar on Speculation Amazon Will Soon Accept Cryptocurrencies as Payment A job posting offers a tantalizing clue.

China wipeout

Monday, July 26, 2021

Bloomberg Beijing's intensifying crackdown on its own technology sector is being felt across global markets, erasing $769 billion in value from US-listed Chinese stocks in just five months. On